Common use of Interpretation and Regulations Clause in Contracts

Interpretation and Regulations. The Committee shall have full power and authority to construe, interpret and administer the Plan and, subject to the powers in the Plan specifically reserved to the Board of Directors of the Company and subject to any other provisions of the Plan, to make determinations which shall be final, conclusive and binding upon all persons including, without limitation, the Company, the shareholders of the Company, the Board of Directors, the Recipient and any persons having any interest in any awards which may be granted under the Plan. The Committee shall have the sole power to determine, solely for purposes of the Plan and this Agreement, the date of and circumstances which shall constitute a cessation or termination of employment and further to determine, solely for purposes of the Plan and this Agreement, what constitutes continuous employment with respect to the delivery of Shares under the Plan (except that absence on leave approved by the Committee or transfers of continuous employment among the subsidiary corporations of the Company shall not be considered an interruption of continuous employment for any purpose under the Plan).